Baku, April 19 (AZERTAC). The budget revenues of Azerbaijan State Oil Fund (SOFAZ) for the period of January-March, 2012 reached 3 586.9 million manats, while budget expenditures constituted 1 919.9 mln manats.

Revenue of 3 352.4 mln manats was received from implementation of oil and gas agreements, including 3 349.4 mln manats from the sale of profit oil and gas, 1.3 mln manats as transit payments, 1.6 mln manats as bonus payments  and 0.1 mln manats from sale of assets received from foreign companies. The revenues from managing assets of the Fund for the reporting period amounted to 234.5 mln manats.

The Fund's extra-budgetary revenues related to the revaluation of foreign exchange totaled 336.1 mln manats. As per 2012 budget of the Fund, 1 839.8 mln manats were transferred to the state budget. The expenditures in the amount of 48.7 mln manats were directed to financing of improvement of social condition of refugees and internally displaced persons, 20.8  mln manats were used for financing the reconstruction of the Samur-Absheron irrigation system. 3.7 mln manats were directed to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015" and 4.8  mln manats were directed to financing Baku-Tbilisi-Kars railway. The Fund's administrative and operational expenses in this period were 2.1 mln manats. The assets of SOFAZ as at April 1, 2012 has grown by 8.6 % compared to the beginning of 2012 (USD 29 800.0 mln.) and stood at USD 32 359.4 mln. Starting from the first quarter of2012 the Oil Fund has begun purchase of gold and the amount of gold in this period were 2 tons 804 kg (90 143 ounces)​​.